online.wsj.com — Bear Stearns Cos. was closing in on a deal Sunday afternoon to sell itself to J.P. Morgan Chase & Co., as worries deepened that the financial crisis of confidence could spread if Bear failed to find a buyer by Monday morning.
Mar 16, 2008 View in Crawl 4
look4truthMar 17, 2008
$2 a share...$2 a share...Um...anyone else see a problem here? Hang on tight, things are about to unravel...
lordredsnakeMar 17, 2008
This is hardly a good deal for Bear Stearns or its 14,000 employees, but the alternative was bankruptcy because nobody else showed up at the meeting to buy the firm except JP Morgan. The Fed is only involved to keep this crisis contained so investors don't start pulling their funds from other banks. When the financial system collapses it affects everyone. Mortgage rates have only gone up despite the Fed Funds rate going down, and further failures will only make that worse. If you're an individual or a small business, getting a loan with favorable rates isn't quite so easy these days. The goal here for the Fed isn't to give Wall Street CEOs golden parachutes, it's to keep the system running so normal people like you and I can still get loans, buy houses, and get on with our lives.
galoreMar 17, 2008
"JPMorgan is buying Bear's absolute top talent"You mean the receptionists? Because it can't be the executives who sunk this ship.
galoreMar 17, 2008
You like to catch falling knives?
gerz1219Mar 17, 2008
Bear's downfall was probably the result of a dozen or so people at the very top. The company still employs many hard-working and talented Ivy League analysts, associates, and managing directors. And yes, many hard-working receptionists and other support staff, who will now be out of a job thanks to managerial incompetence.Why are so many people celebrating Bear's downfall when the vast majority of its employees busted their ass for that company and did their job well? It's almost like you're happy that pretty soon there aren't going to be middle and upper-middle class people left in this country who can find work in the financial services sector.
gerbcoMar 17, 2008
It was a useful product that got abused by real estate agents and idiot home buyers to buy houses they couldn't afford. If you think its greenspans fault i got some daisies from the Netherlands that I would like to sell you.
sgiffyMar 17, 2008
Because there are a lot of disaffected people who are angry that others have good jobs while they hold down the fort at the 7/11. Instead of trying to do better with their lives they hatch crazy conspiracy theories and welcome economic disaster becasue they think it will prove them right.
lilbowwowMar 18, 2008
lol